Crypto-Friendly Wyoming Welcomes Ripple, Faces Backlash   

u.today 2021-02-21 19:48
Reading time: ~1 m

Ripple has apparently redomiciled to the state of Wyoming, according to its recent filing shared by Avanti Bank & Trust founder and CEO Caitlin Long. The San Francisco-based company was initially registered in Delaware.

Long, a prominent cryptocurrency advocate, has faced severe criticism from her followers shortly after tweeting out the announcement, with many viewing it as damaging to her reputation.

Ripple was sued by the U.S. Securities and Exchange Commission in late 2020 over unregistered XRP sales.

“Wyoming maximalism”

Former Wyoming state legislator Tyler Lindholm—who’s currently serving as State Policy Director for U.S. Senator-elect Cynthia Lummis—defended the embrace:  

This is and has always been about Wyoming. You may be a maximalist about Bitcoin while others are maximalist about Wyoming. Throwing shade because we successfully recruited a business that you don't like is weak sauce.

Senator Lummis is a staunch Bitcoin proponent who recently made headlines after adopting the “laser eyes” meme.

As reported by U.Today, Wyoming became the first state to recognize crypto as property back in February 2019.